Growth of GBP/JPY Might Extend
Trading of the cross is neutral, and there is no sign of trend reversal yet. Pivot points are at: (S1) 155.07; (P) 155.83; (R1) 156.27.
Overcoming of 156.59 will prolong the running increase to 100% projection of 139.29 to 152.82 from 146.96 at 160.49. The pair’s near term forecast will stay bullish while support 151.95 keeps.
It is awaited, that growth from 122.36 will extend to 61.8% retracement of 195.86 to 122.36 at 167.78. Overcoming of support 146.96 will indicate trend reversal, and the pair will retest minimum 122.36.